Thirty-one per cent of 2009 sales of Royal Philips Electronics came from the sale of eco-friendly products, three years ahead of schedule, the company said in a statement.

It expects to reach the 50 per cent mark by 2015 and its Green Innovation investment target of a cumulative 1 billion euros ($1.35 billion) in 2010, the statement said, adding it is well positioned to deliver on its 25 per cent operational energy efficiency improvement commitment.

"The fact that we are so far ahead of what we set out to achieve in late 2007 with EcoVision4, shows that sustainability truly is a driving factor in Philips’ business strategy," said Rudy Provoost, chairman of Philips' sustainability board and CEO of Philips Lighting.

"Sustainability is an integral part of our DNA as a health and well-being company. Given the need for ambitious approaches in this area, we will continue to set such targets and to deliver upon them."

Under the programme name EcoVision5, Philips announced its 2015 sustainability targets, based on the global trends to which the company can offer meaningful solutions.

These new targets broaden Philips’ approach to sustainability well beyond the ecological footprint, in line with the company’s health and well-being strategy, which strives to bring care to more than 500 million people by 2015.

By 2015, Philips will improve the energy efficiency of its overall product portfolio by 50 per cent, the statement said.

Lighting accounts today for 19 per cent, or nearly one fifth, of the world’s total energy consumption. With LED technology quickly set to become the industry norm, Philips has the insights and capabilities to make a globally significant difference in addressing the energy imperative through its lighting innovations, according to the statement.

Philips also aims to double the collection and recycling of its end-of-life products, as well as the amount of recycled materials used in Philips products by 2015, the statement added. – TradeArabia News Service